Orchid Pharma announces OFS at 72% discount

Dhanuka, which took over the pharma company under the NCLT resolution process in 2018, announced selling 32.80 lakh shares representing an 8.04 per cent stake in the company through OFS. The company has a total of 40.81 million outstanding shares, of which 98.04 per cent shares are with the promoters. To comply with Sebis minimum public holding norms, the promoters will have to reduce their holding from the current 98.01 per cent to 90 per cent by November.

via Economictimes